Aceto Corporation (ACET) Receives Average Recommendation of “Hold” from Brokerages
Shares of Aceto Corporation (NASDAQ:ACET) have earned an average rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.00.
A number of research analysts have weighed in on the company. ValuEngine raised Aceto Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 13th. Canaccord Genuity assumed coverage on Aceto Corporation in a report on Monday, July 31st. They issued a “buy” rating and a $19.00 target price on the stock. Zacks Investment Research downgraded Aceto Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 30th. Finally, BidaskClub downgraded Aceto Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.
In other news, Chairman Albert L. Eilender sold 6,500 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $15.21, for a total value of $98,865.00. Following the transaction, the chairman now owns 252,029 shares of the company’s stock, valued at $3,833,361.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steven Rogers sold 2,285 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $15.45, for a total value of $35,303.25. Following the completion of the transaction, the senior vice president now directly owns 18,995 shares in the company, valued at approximately $293,472.75. The disclosure for this sale can be found here. Insiders sold 59,348 shares of company stock worth $790,460 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC raised its stake in shares of Aceto Corporation by 7.2% in the first quarter. Mason Street Advisors LLC now owns 7,043 shares of the company’s stock worth $111,000 after buying an additional 476 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Aceto Corporation by 56.9% in the second quarter. BNP Paribas Arbitrage SA now owns 8,608 shares of the company’s stock worth $133,000 after buying an additional 3,121 shares during the period. Hartford Investment Management Co. bought a new position in shares of Aceto Corporation in the second quarter worth about $165,000. Louisiana State Employees Retirement System raised its stake in shares of Aceto Corporation by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the company’s stock worth $194,000 after buying an additional 200 shares during the period. Finally, Karp Capital Management Corp bought a new position in shares of Aceto Corporation in the first quarter worth about $214,000. 82.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aceto Corporation (ACET) opened at 11.16 on Monday. The company has a market capitalization of $336.02 million, a PE ratio of 31.89 and a beta of 1.35. The stock’s 50 day moving average price is $13.45 and its 200-day moving average price is $14.65. Aceto Corporation has a 1-year low of $10.27 and a 1-year high of $22.46.
Aceto Corporation (NASDAQ:ACET) last posted its earnings results on Thursday, August 24th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.17). Aceto Corporation had a net margin of 1.78% and a return on equity of 10.21%. The firm had revenue of $194.60 million during the quarter, compared to the consensus estimate of $184.49 million. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue was up 43.7% compared to the same quarter last year. On average, equities analysts predict that Aceto Corporation will post $1.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, September 8th were paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, September 7th. Aceto Corporation’s dividend payout ratio (DPR) is currently 74.29%.
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Aceto Corporation Company Profile
Aceto Corporation (Aceto) is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products.
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